Markets News 

Vatican says ‘amoral’ financial system needs infusion of ethics, more regulation

“It said that even today, some types of derivatives were a “ticking time bomb ready sooner or later to explode, poisoning the health of the markets.”” writes unknown author for cnbc.com. It said some forms of financial intermediation “have not only produced manifest abuses and injustice, but also demonstrated a capacity to create systemic and worldwide economic crisis”.The document called for separation of banks to avoid another crisis.The document attacked the “economic cannibalism” of some financial practices.CNBC reported derivatives declined to a gross market value of about $11 trillion at…

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GBP News 

Thomson Reuters to move forex derivatives out of London to Dublin after Brexit: FT

“LONDON (Reuters) – Thomson Reuters is planning to transfer its foreign exchange derivatives trading to Dublin from London ahead of Britain’s departure from the European Union in March 2019, the Financial Times reported” writes Midwest Communications Inc for 95kqds.com. It will be used to cover the derivatives business — the largest in Europe — which trades more than $300 billion a day, the FT said.The business is part of the trading operations being bought by private equity group Blackstone. Source: 95kqds.com Share This:

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Markets News 

Chastened by past demons, CFTC is quick to call out potential manipulation in credit derivatives

“Fortunately, that’s changing, especially with regard to credit default swaps” writes Bart Chilton for cnbc.com. The agency’s statement was clear in saying that manufactured credit events may constitute market manipulation and may severely damage the integrity of the CDS market.This included the use of a particular financial product — the credit default swap — which fuel-injected a spiral into the Great Recession.Not surprisingly, GSO holds more than $300 million in credit default swaps that would pay out in the event Hovnanian defaults.A reliable CDS market can help provide investors with…

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News 

SocGen poaches head of equities trading from BofAML

“PARIS (Reuters) – France’s Societe Generale named Alexandre Fleury as head of equities and equity derivatives, it said on Wednesday” writes Midwest Communications Inc for 95kqds.com. Fleury was previously global head of equities structured products and structured financing at Bank of America Merrill Lynch He would replace Richard Quessette who had left the firm in late April. “This appointment will allow the bank to strengthen its edge as a global leader in derivatives,” Frank Drouet, SocGen’s head of global markets said in a statement. Source: 95kqds.com Share This:

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News Stocks 

JPMORGAN: Tesla is facing a ‘self-feeding downward spiral’ — here’s how to protect against a stock crash

“And since the investment vehicles he’s suggesting will be used to bet on a further Tesla stock plunge, he’s labeled them “crash puts.”” writes Joe Ciolli for businessinsider.com. The past three weeks have been enough to worry even the staunchest Tesla bull, as the company’s stock has dropped 27% to its lowest level in more than a year.”A continued stock decline could accelerate equity dilution concerns and create a self-feeding downward spiral in the stock, making our tail risk scenario plausible,” Shawn Quigg, an equity derivatives strategist at JPMorgan, wrote…

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News Stocks 

JPMorgan says it’s found the perfect trade for worried Facebook investors

“Without further ado, here’s the derivatives team’s top Facebook trade: buy Facebook $185 calls and simultaneously sell $150 puts, both expiring in May” writes Joe Ciolli for businessinsider.com. The company’s stock has plummeted 9% in just two days — its biggest such drop in more than two years — and now investors find themselves at a crucial juncture.Lucky for them, the equity derivatives team at JPMorgan has an options strategy that they think is the ideal way to play these uncertain conditions.The trade, known as a risk reversal, will be…

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Crypto News Platforms 

Wall Street trading firm trueEx is set to launch a derivatives platform for cryptocurrency

“TrueEx, the trading technology company, is preparing to dive into the world of cryptocurrency with a new derivatives marketplace” writes Frank Chaparro for businessinsider.com. Up until last week, trueEx was seeking talent for a cryptocurrency derivatives exchange called Virtuoso, for which the company posted a job ad seeking a Sales Director.The company said Monday it is preparing to launch trueDigital, which will list non-deliverable forward (NDF) contracts for cryptocurrency, the first of which will be for bitcoin.TrueDigital, which will operate under a trueEx affiliate called trueDigital Holdings, is pending regulatory…

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Crypto News Platforms 

Devexperts Supporting Crypto Derivatives on dxTrade’s Platform

“This has led to the group to integrate crypto spot and derivatives trading to its multi-asset and multi-market trading platform dxTrade” reports financemagnates.com. Having now permeated the mainstream retail space, more and more brokers have begun to explore and leverage crypto trading capabilities for their clients.Devexperts, one of the leading platform technology developers in the industry, has embraced the growing industry shift towards cryptocurrencies.The new initiative takes advantage of the growing influence and demand for cryptos in the retail industry.The group’s solutions suite also offers technical analysis and market analysis…

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Markets News 

Icahn: The market will one day ‘implode’ because of these wacky funds using so much leverage

“The market is a “casino on steroids” with all these exchange-traded funds and exchange-traded notes, he said” writes David A for cnbc.com. Investors are piling into index funds thinking they’ll never go down, Icahn said.”The market itself is way over-leveraged,” Icahn said on “Fast Money Halftime Report,” predicting that “one day this thing is just going to implode.”. These funds, especially the leveraged ones, are the “fault lines” that will eventually lead to an earthquake on Wall Street, he said.The stock market entered its third day of huge sell-offs and…

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Crypto Futures News 

U.S. derivatives regulator announces meetings to review futures based on cryptocurrencies

“WASHINGTON (Reuters) – The leading U.S. derivatives regulator announced Thursday it would be holding a pair of meetings to review the process for allowing futures based on cryptocurrencies to come to market” reports businessinsider.com. The late January meetings to be held by the Commodity Futures Trading Commission comes after two leading exchanges launched bitcoin futures in December.CFTC Chairman Christopher Giancarlo said the regulator is aware of the “considerable risks” that come with cryptocurrencies like bitcoin.But the CFTC noted that there is no law or rule that would have prevented CME…

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